# In the matter of Harishchandra Builders Private Limited C.P. (IB)-77(KB)2022

> NCLT judgment dated 2022-04-22. Citation: TCN-2022-NCLT-03111. The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC).…

- **Court:** NCLT
- **Order date:** 22 Apr 2022
- **Citation:** TCN-2022-NCLT-03111
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/harishchandra-builders-private-limited-cp-ib-77kb2022-6108d762

## Summary

### Background

The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The amount claimed to be in default is Rs. 14.27 lakhs, which is below the threshold limit of one crore rupees as specified in Section 4 of the IBC, as amended on March 25, 2020. The invoices presented are dated between March 2017 and November 2017.

## Facts

Winntus Formworks Private Limited filed a petition against Harishchandra Builders Private Limited under Section 9 of the IBC, claiming a default of Rs. 14.27 lakhs. This amount is below the threshold of one crore rupees as per Section 4 of the IBC, amended on March 25, 2020. The invoices presented as evidence were dated between March 2017 and November 2017. The court noted that no material was presented to save the limitation period for the purpose of IBC. The petition was dismissed as not maintainable.

## Issues and analysis

### Issue 1: Whether the petition is maintainable under Section 9 of the IBC when the default amount is below …

**Ratio:** A petition under Section 9 of the IBC is not maintainable if the default amount is below

…

**Reasoning:** The court referred to Section 4 of the IBC, which specifies the minimum threshold for

…

**Interpretation:** Section 4 of the IBC sets a minimum threshold for the amount of default

…

**Application:** In this case, the claimed default amount of Rs. 14.27 lakhs is below the one

…

## Parties

- **Judges:** Rajasekha…; Balraj…
- **Appellants:** Winntus Formworks…
- **Respondents:** Harishchandra…

## Timeline

- **2020-03-25 — Amendment to Section 4…**: Section 4 of the IBC was amended, specifying…
- **2021-10-25 — Order by…**: Reference to Order dated 25.10.2021 in Company Appeal (AT) (Insolvency) No. 813 of 2021…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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